This is the story of Judith Faulkner, the reclusive lady whose single-minded pursuit resulted in the founding of one of the largest tech companies in healthcare. Ms Faulkner founded Epic Systems Corporation in 1979. Epic Systems is one of the largest databases of EHR (Electronic Health Record) and holds the medical records of over 250 million people.
It is used by large hospitals in the USA to access medical records of their patients electronically. Started in the basement of her home in Wisconsin, the company’s moto is “to help people get well, help people stay well, and help future generations be healthier”. When she started Epic with $70,000 there were only two-part time employees and herself.
MARKET LEADER
Today, it has over 10,000 employees and Epic Systems Corporation is the market leader amongst EHR vendors with around 37 per cent market share. Its closest competitor Cerner, recently acquired by Oracle Corporation, has around 22 per cent share.
Ms Faulkner, who began life as a computer programmer, owns about 47 per cent of the company, along with her family. Employees and other initial investors own the rest. She has never raised funds from the market and has stated that the company will never go public. Likewise, while it is considered a leader in technology, the company has never made an acquisition and all of its software is home grown. Ms Faulkner is proud of the deep relationship with her customers. The software has been used, on an average, for over 10 years.
Bu hikaye Business World India dergisinin 25 March 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business World India dergisinin 25 March 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
